Share falls led by technology sector

Falls in the technology and telecoms sectors have taken their toll on the FTSE-100 index, now down 54.5 points.

The Footsie is standing at 5765.7 after shares dropped following a poor performance on the US markets overnight.

Among the telecoms stocks marching south are Telewest Communications, down 6p at 105¼p, Colt Telecom, off 22p at 614p, Cable & Wireless off 22p at 425p and telecoms providers Energis, down 9p at 233p.

Vodafone is 4½p lower at 166¾p, while BT has slipped 6½p at 443½p as it prepares to close its right issue tomorrow.

Tech stocks on the slide include Misys, off 34p at 525p, Sage down 15¾p at 259½p, Logica down 44p at 871p and Arm off 15p at 279p.

Other fallers include British Airways, sliding 6%, off 22p at 329p, as investors showed nerves following a warning from Lufthansa yesterday.

The German group said it expected operating profits this year to fall below estimates by as much as 30%.

BA is also expected this week to confirm the sale of its budget airline Go to 3i - which slipped 46p to £11.89.

But Canary Wharf has risen 5%, or up 25p, at 554p after announcing plans to return £2 billion to shareholders over the next four years.

And Hays continues to rise, up 6¾p to 189p, following the departure of managing director John Cole yesterday.